Datrium Closes $55 Million in FinancingTotal raised to $110 million
This is a Press Release edited by StorageNewsletter.com on 2016.12.06
Datrium, Inc., in open convergence platform for cloud builders, secured $55 million in Series C financing led by New Enterprise Associates, Inc. (NEA), with return investment by Lightspeed Venture Partners, as well as funding from a third, outside investor.
This new financing brings total raised to more than $110 million since inception and provides a deep war chest to continue scaling sales, marketing, support and engineering to bring the benefits of Open Convergence and its product, DVX, to cloud builders around the world.
The company was founded by virtualization and data management industry leaders from VMware and Data Domain, including early funding from VMware founders Mendel Rosenblum, Edouard Bugnion and Diane Greene, along with Data Domain founder Dr. Kai Li and ex-CEO Frank Slootman.
By providing a data platform that models public cloud infrastructure-as-a-service (IaaS), Datrium eliminates the need for storage arrays, while integrating seamlessly with multi-vendor enterprise infrastructure.
"Storage arrays are a dying market, but for most cloud datacenters hyperconverged infrastructure is too inefficient and siloed to be a replacement," said Brian Biles, CEO, Datrium. "Datrium is the first vendor to bring the Open Convergence vision to life, splitting elastic data services from efficient data persistence. Our DVX is available for VMware today in the US and Japan, and we are excited to broaden our reach with this new investment.”
"We are in the business of supporting transformative innovation," said Scott Sandell, managing general partner, NEA, and Datrium board member. "From early on, we felt that Datrium had the potential to significantly impact the multi-billion dollar cloud infrastructure market. We’re seeing this foresight realized through the company’s impressive traction and are thrilled to continue partnering with the team."
Since announcing the general availability of DVX in Q1, the company has experienced growth.
Recent innovations and corporate milestones include:
- Customer Adoption: More than 50 companies in banking, cloud hosting, health care, public sector, manufacturing, media & entertainment and technology leaders have deployed Datrium in two full quarters of availability.
- NVMe Adoption: NVMe-based DVX systems have been deployed by multiple customers since Q1 2016.
- Innovation: Three major releases in seven months. In addition to DVX General Availability in January, Datrium has released Insane Mode in May, an on-demand VM acceleration utility that doubles performance with the touch of a button, as well as Performance Density in August, which doubled per-server flash to 100TB for both SATA/SAS and PCIe/NVMe flash.
- Go-to-Market Growth: Authorized go-to-market partners has soared to 80 companies in North America and Asia and growing.
- Industry Awards and Accolades: The start-up has been named to Gartner's Cool Vendors in Storage Technologies 2016, CRN Coolest Startups of 2016, Tech Republic's 2016 Coolest Companies, Channel Partner’s Hottest Startups in the Channel, and CIO Review's Most Promising VMware Solutions Providers of 2016.